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NMI Holdings, Inc.（NMIH）与OLD REPUBLIC INTERNATIONAL CORP（ORI）财务数据对比。点击上方公司名可切换其他公司
OLD REPUBLIC INTERNATIONAL CORP的季度营收约是NMI Holdings, Inc.的13.3倍（$2.4B vs $180.7M）。NMI Holdings, Inc.净利率更高（52.1% vs 13.8%，领先38.4%）。NMI Holdings, Inc.同比增速更快（8.5% vs 6.7%）。过去两年OLD REPUBLIC INTERNATIONAL CORP的营收复合增速更高（13.2% vs 7.5%）
NMI控股是美国头部私人抵押贷款保险服务商，主要为贷款机构提供抵押贷款担保保险产品，降低住房抵押贷款信用风险，服务美国本土住宅市场，助力符合资质的购房者获得购房便利，同时保护放贷机构免受违约损失。
Old Republic International Corp是一家总部位于美国伊利诺伊州芝加哥的保险企业，核心业务覆盖财产保险、产权保险两大领域，深耕行业多年，具备成熟的风险防控能力与完善的服务体系，可为各类客户提供专业可靠的保险产品及相关解决方案。
NMIH vs ORI — 直观对比
营收规模更大
ORI
是对方的13.3倍
$180.7M
营收增速更快
NMIH
高出1.8%
6.7%
净利率更高
NMIH
高出38.4%
13.8%
两年增速更快
ORI
近两年复合增速
7.5%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $180.7M | $2.4B |
| 净利润 | $94.2M | $330.0M |
| 毛利率 | — | — |
| 营业利润率 | 67.0% | — |
| 净利率 | 52.1% | 13.8% |
| 营收同比 | 8.5% | 6.7% |
| 净利润同比 | 9.3% | 34.7% |
| 每股收益（稀释后） | $1.21 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收NMIHORI
| Q1 26 | — | $2.4B | ||
| Q4 25 | $180.7M | $2.4B | ||
| Q3 25 | $178.7M | $2.4B | ||
| Q2 25 | $173.8M | $2.2B | ||
| Q1 25 | $173.2M | $2.1B | ||
| Q4 24 | $166.5M | $2.0B | ||
| Q3 24 | $166.1M | $2.3B | ||
| Q2 24 | $162.1M | $1.9B |
净利润NMIHORI
| Q1 26 | — | $330.0M | ||
| Q4 25 | $94.2M | $206.5M | ||
| Q3 25 | $96.0M | $279.5M | ||
| Q2 25 | $96.2M | $204.4M | ||
| Q1 25 | $102.6M | $245.0M | ||
| Q4 24 | $86.2M | $105.3M | ||
| Q3 24 | $92.8M | $338.9M | ||
| Q2 24 | $92.1M | $91.8M |
营业利润率NMIHORI
| Q1 26 | — | — | ||
| Q4 25 | 67.0% | — | ||
| Q3 25 | 69.2% | 14.6% | ||
| Q2 25 | 71.1% | 11.8% | ||
| Q1 25 | 75.8% | 14.6% | ||
| Q4 24 | 66.6% | — | ||
| Q3 24 | 71.8% | 18.2% | ||
| Q2 24 | 73.2% | 6.1% |
净利率NMIHORI
| Q1 26 | — | 13.8% | ||
| Q4 25 | 52.1% | 8.6% | ||
| Q3 25 | 53.7% | 11.5% | ||
| Q2 25 | 55.3% | 9.3% | ||
| Q1 25 | 59.2% | 11.6% | ||
| Q4 24 | 51.8% | 5.3% | ||
| Q3 24 | 55.9% | 14.5% | ||
| Q2 24 | 56.8% | 4.9% |
每股收益（稀释后）NMIHORI
| Q1 26 | — | — | ||
| Q4 25 | $1.21 | $0.82 | ||
| Q3 25 | $1.22 | $1.11 | ||
| Q2 25 | $1.21 | $0.81 | ||
| Q1 25 | $1.28 | $0.98 | ||
| Q4 24 | $1.07 | $0.42 | ||
| Q3 24 | $1.15 | $1.32 | ||
| Q2 24 | $1.13 | $0.35 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.6B | $5.9M |
| 总资产 | $3.8B | $29.6M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
股东权益NMIHORI
| Q1 26 | — | $5.9M | ||
| Q4 25 | $2.6B | $5.9B | ||
| Q3 25 | $2.5B | $6.4B | ||
| Q2 25 | $2.4B | $6.2B | ||
| Q1 25 | $2.3B | $5.9B | ||
| Q4 24 | $2.2B | $5.6B | ||
| Q3 24 | $2.2B | $6.4B | ||
| Q2 24 | $2.0B | $6.0B |
总资产NMIHORI
| Q1 26 | — | $29.6M | ||
| Q4 25 | $3.8B | $29.9B | ||
| Q3 25 | $3.7B | $30.3B | ||
| Q2 25 | $3.6B | $29.3B | ||
| Q1 25 | $3.5B | $28.0B | ||
| Q4 24 | $3.3B | $27.8B | ||
| Q3 24 | $3.3B | $28.8B | ||
| Q2 24 | $3.1B | $27.5B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $61.7M | — |
| 自由现金流经营现金流 - 资本支出 | $60.1M | — |
| 自由现金流率自由现金流/营收 | 33.3% | — |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | 0.66× | — |
| 过去12个月自由现金流最近4个季度 | $412.5M | — |
8季度趋势，按日历期对齐
经营现金流NMIHORI
| Q1 26 | — | — | ||
| Q4 25 | $61.7M | $234.9M | ||
| Q3 25 | $128.0M | $563.9M | ||
| Q2 25 | $128.4M | $133.8M | ||
| Q1 25 | $101.2M | $231.7M | ||
| Q4 24 | $35.8M | $361.7M | ||
| Q3 24 | $128.4M | $474.8M | ||
| Q2 24 | $117.8M | $236.5M |
自由现金流NMIHORI
| Q1 26 | — | — | ||
| Q4 25 | $60.1M | — | ||
| Q3 25 | $126.3M | — | ||
| Q2 25 | $126.7M | — | ||
| Q1 25 | $99.4M | — | ||
| Q4 24 | $34.4M | — | ||
| Q3 24 | $126.9M | — | ||
| Q2 24 | $115.9M | — |
自由现金流率NMIHORI
| Q1 26 | — | — | ||
| Q4 25 | 33.3% | — | ||
| Q3 25 | 70.7% | — | ||
| Q2 25 | 72.9% | — | ||
| Q1 25 | 57.4% | — | ||
| Q4 24 | 20.7% | — | ||
| Q3 24 | 76.4% | — | ||
| Q2 24 | 71.5% | — |
资本支出强度NMIHORI
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 1.1% | — |
现金转化率NMIHORI
| Q1 26 | — | — | ||
| Q4 25 | 0.66× | 1.14× | ||
| Q3 25 | 1.33× | 2.02× | ||
| Q2 25 | 1.33× | 0.65× | ||
| Q1 25 | 0.99× | 0.95× | ||
| Q4 24 | 0.42× | 3.43× | ||
| Q3 24 | 1.38× | 1.40× | ||
| Q2 24 | 1.28× | 2.58× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
